Market Runner: Does Regal Beloit Corp Have More Gas After Touching 52-Week High?

December 1, 2016December 1, 2016Linda Rogers

The stock of Regal Beloit Corp (NYSE:RBC) hit a new 52-week high and has $79.84 target or 8.00% above today’s $73.93 share price. The 9 months bullish chart indicates low risk for the $3.36B company. The 1-year high was reported on Dec, 1 by Barchart.com. If the $79.84 price target is reached, the company will be worth $268.80M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 332,830 shares traded hands or 21.96% up from the average. Regal Beloit Corp (NYSE:RBC) has risen 12.12% since April 28, 2016 and is uptrending. It has outperformed by 6.19% the S&P500.

Analysts await Regal Beloit Corp (NYSE:RBC) to report earnings on February, 13. They expect $1.04 EPS, down 11.11% or $0.13 from last year’s $1.17 per share. RBC’s profit will be $47.27M for 17.77 P/E if the $1.04 EPS becomes a reality. After $1.31 actual EPS reported by Regal Beloit Corp for the previous quarter, Wall Street now forecasts -20.61% negative EPS growth.

Regal Beloit Corp (NYSE:RBC) Ratings Coverage

Out of 10 analysts covering Regal Beloit Corp (NYSE:RBC), 1 rate it a “Buy”, 1 “Sell”, while 8 “Hold”. This means 10% are positive. Regal Beloit Corp has been the topic of 19 analyst reports since August 5, 2015 according to StockzIntelligence Inc. Seaport Global maintained the stock with “Accumulate” rating in Wednesday, March 23 report. The rating was downgraded by Wunderlich on Wednesday, April 20 to “Hold”. As per Tuesday, August 2, the company rating was downgraded by BMO Capital Markets. The rating was downgraded by Seaport Global Securities to “Neutral” on Tuesday, September 27. The stock of Regal Beloit Corp (NYSE:RBC) has “Overweight” rating given on Monday, January 11 by Morgan Stanley. The rating was maintained by Wunderlich with “Buy” on Tuesday, February 9. The company was maintained on Wednesday, November 4 by Wunderlich. The firm earned “Equal-Weight” rating on Wednesday, May 11 by Morgan Stanley. The stock of Regal Beloit Corp (NYSE:RBC) has “Neutral” rating given on Tuesday, September 29 by Buckingham Research. On Wednesday, November 25 the stock rating was initiated by Stifel Nicolaus with “Hold”.

According to Zacks Investment Research, “Regal Beloit Corporation is a leading manufacturer of electrical and mechanical motion control and power generation products serving markets throughout the world. Regal Beloit is headquartered in Beloit, Wisconsin, and has manufacturing, sales, and service facilities throughout North America and in Mexico, Europe and Asia.”

Insitutional Activity: The institutional sentiment increased to 1.23 in Q2 2016. Its up 0.02, from 1.21 in 2016Q1. The ratio increased, as 33 funds sold all Regal Beloit Corp shares owned while 67 reduced positions. 35 funds bought stakes while 86 increased positions. They now own 42.08 million shares or 1.10% more from 41.62 million shares in 2016Q1.
Jefferies Llc reported 6,018 shares or 0% of all its holdings. Oregon Pub Employees Retirement Fund last reported 0.02% of its portfolio in the stock. Ls Inv Advisors Llc has 2,730 shares for 0.01% of their US portfolio. Ronald Blue & last reported 0.01% of its portfolio in the stock. First Advsr L P last reported 0.01% of its portfolio in the stock. Liberty Mutual Gru Asset Mgmt Inc, a Massachusetts-based fund reported 19,405 shares. Profund Advsrs Ltd Liability Corporation reported 9,078 shares or 0.02% of all its holdings. Tfs Ltd Com last reported 23,838 shares in the company. Lsv Asset Mgmt holds 1,800 shares or 0% of its portfolio. Moreover, Credit Suisse Ag has 0% invested in Regal Beloit Corp (NYSE:RBC) for 77,543 shares. Oakbrook Invs Ltd Liability Corp has 0.01% invested in the company for 4,600 shares. Pnc Fincl Service Gru Inc holds 8,538 shares or 0% of its portfolio. Prudential last reported 885,956 shares in the company. Gotham Asset Management Ltd Com last reported 0.02% of its portfolio in the stock. Numeric Invsts Ltd Com accumulated 0.01% or 26,600 shares.

Insider Transactions: Since August 11, 2016, the stock had 0 buys, and 2 sales for $144,243 net activity. On Thursday, August 11 the insider COLVIN TERRY R sold $100,885. 626 Regal Beloit Corp (NYSE:RBC) shares with value of $43,358 were sold by Avampato John.

Another recent and important Regal Beloit Corp (NYSE:RBC) news was published by Prnewswire.com which published an article titled: “Regal Beloit Corporation Announces Third Quarter 2016 Financial Results” on November 07, 2016.

RBC Company Profile

Regal Beloit Corporation, incorporated on March 2, 1994, is a maker of electric motors and controls, electric generators and controls, and power transmission products. The Firm operates through three divisions: the Commercial and Industrial Systems segment, with its principal line of business in medium and large electric motors, power generation products, high-performance drives and controls and capacitors; the Climate Solutions segment, with its principal line of business in small motors, controls and air moving products, and the Power Transmission Solutions segment, with its principal line of business in power transmission gearing, hydraulic pump drives, large open gearing and specialty mechanical products which control motion and torque. It sells its products directly to original equipment manufacturers (OEMs), distributors and end users. It operates distribution facilities in Indianapolis, Indiana; Florence, Kentucky, and LaVergne, Tennessee, which serve as hubs for its North American distribution and logistics operations.